Sound Shore Management Inc. CT Sells 105,882 Shares of General Motors Company (NYSE:GM)

Sound Shore Management Inc. CT lowered its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 9.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 975,713 shares of the auto manufacturer's stock after selling 105,882 shares during the quarter. Sound Shore Management Inc. CT owned 0.10% of General Motors worth $45,888,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GM. Journey Strategic Wealth LLC lifted its position in shares of General Motors by 10.2% during the 1st quarter. Journey Strategic Wealth LLC now owns 4,760 shares of the auto manufacturer's stock worth $224,000 after buying an additional 441 shares in the last quarter. Machina Capital S.A.S. purchased a new position in shares of General Motors in the first quarter valued at $1,059,000. ACR Alpine Capital Research LLC raised its stake in shares of General Motors by 4.0% during the 1st quarter. ACR Alpine Capital Research LLC now owns 7,691,140 shares of the auto manufacturer's stock valued at $361,714,000 after purchasing an additional 293,736 shares during the period. AE Wealth Management LLC grew its holdings in General Motors by 42.6% during the 1st quarter. AE Wealth Management LLC now owns 32,523 shares of the auto manufacturer's stock valued at $1,530,000 after buying an additional 9,711 shares in the last quarter. Finally, Mount Lucas Management LP increased its position in shares of General Motors by 96.8% during the first quarter. Mount Lucas Management LP now owns 35,780 shares of the auto manufacturer's stock valued at $1,683,000 after buying an additional 17,603 shares during the period. Institutional investors own 92.67% of the company's stock.

General Motors Stock Performance

General Motors stock traded down $0.01 during mid-day trading on Monday, reaching $53.39. 3,421,444 shares of the stock traded hands, compared to its average volume of 12,326,241. The stock has a market capitalization of $50.84 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 1.13 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. The business's 50-day moving average is $50.23 and its 200-day moving average is $48.70. General Motors Company has a 12-month low of $38.96 and a 12-month high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. The company had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%. General Motors's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $3.06 EPS. As a group, sell-side analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, September 5th. General Motors's dividend payout ratio (DPR) is 9.52%.

Analysts Set New Price Targets

A number of research firms recently weighed in on GM. Bank of America decreased their target price on shares of General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Wedbush reissued an "outperform" rating and set a $55.00 price objective on shares of General Motors in a research note on Wednesday, July 23rd. CLSA raised General Motors to a "moderate buy" rating in a report on Monday, July 7th. The Goldman Sachs Group restated a "buy" rating on shares of General Motors in a research report on Friday, July 11th. Finally, Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a report on Friday, July 11th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, General Motors currently has an average rating of "Hold" and an average target price of $56.35.

General Motors Company Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.